Business Services Industry
Macquarie offloads US trust for $1.24b.
Australasian Business Intelligence, April, 2007
Byline: Carolyn Cummins
Apr 17, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- ProLogis has bought out partner Macquarie Bank's share of a joint venture US industrial trust for $A1.24bn. The trust, established in 2002, has not created fees for Macquarie due to changes in the US property market and shifting US-Australia exchange rates. As a consequence, it has underperformed the Australian Securities Exchange's property index. Units will be purchased by ProLogis at $A1.43 cash.
Publication Date: 18 April 2007
MACQUARIE PROLOGIS TRUST - ASX MPR
MACQUARIE BANK LIMITED - ASX MBL
PROLOGIS INCORPORATED
GOLDMAN SACHS JBWERE PTY LTD
UBS AUSTRALIA LIMITED
STANDARD AND POOR'S ASX 200 PROPERTY TRUSTS INDEX
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